Established
2021
Companies
500+
Location
Ras Al Khaimah
About Innovation City
Innovation City, formerly known as RAK DAO, is a specialized free zone in Ras Al Khaimah focused on digital innovation, blockchain technology, and emerging technologies. The zone provides a regulatory-friendly environment for fintech, cryptocurrency, and digital asset companies to establish and operate their businesses in the UAE.
Interested in setting up in Innovation City?
Let's discuss your requirements and find the best solution for your business.
Key Industries
Ideal For
License Types & Costs
Blockchain Technology License
For companies developing blockchain solutions, smart contracts, and distributed ledger technologies
Starting from
18,000
AEDActivities Allowed
Blockchain development, smart contract creation, DLT solutions
Digital Asset License
For cryptocurrency exchanges, digital wallet providers, and crypto trading platforms
Starting from
25,000
AEDActivities Allowed
Crypto trading, digital wallet services, token issuance
Fintech License
For financial technology companies and digital payment solutions
Starting from
20,000
AEDActivities Allowed
Payment processing, financial software, digital banking solutions
Processing Time
5-7 business days
Annual Renewal
Same as initial license fee
Validity
1 year, renewable
Need help choosing the right license type?
Our experts can guide you through the licensing options and help you select the best fit.
Visa Information
Available for shareholders, directors, and employees of licensed companies
2 visas
Desk Space
4 visas
Private Office
8 visas
Dedicated Office
Estimated Costs
Costs vary based on license type and office requirements. Additional fees may apply for specific regulatory approvals.
Want a detailed cost breakdown for your business?
Request a personalized quote tailored to your specific business needs.
Pros & Cons
Advantages
- Specialized focus on blockchain and digital innovation
- Crypto-friendly regulatory environment
- Fast company setup process
- No minimum capital requirements
- Golden Visa eligibility
- Modern technology infrastructure
- Competitive pricing for tech companies
- Strategic location in Ras Al Khaimah
Considerations
- Limited to technology and digital sectors
- Smaller ecosystem compared to Dubai free zones
- Less international recognition than established zones
Frequently Asked Questions
Why Choose Innovation City?
Best For
- Blockchain Companies
- Crypto Startups
- Fintech Businesses
- Digital Innovation
- Tech Entrepreneurs
Not Ideal For
- Traditional Manufacturing
- Heavy Industries
- Non-tech Businesses
- Large Corporations
- Retail Operations